5-Unit Apartment
New
For Sale
$1,025,000
119 Stewart Avenue, Ithaca, NY 14850
MultiFamily, Ithaca, NY
Property Size3,851 SF
Lot Size0.11 Acres
Price / SF$266.16
Days on Market2
Property Features for 119 Stewart Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
9
Rooms
Bedroom 2, Bedroom 5, Bedroom 3, Bedroom 8, Bedroom 9, Bedroom 7, Bedroom 4, Bedroom 6, Bedroom 1
Parking features
Garage
Patio and Porch features
Porch, Deck
Interior features
CeilingFans
Exterior features
ConcreteDriveway, Deck
Appliances
Dishwasher, GasOven, GasRange, GasWaterHeater, Refrigerator
Lot features
Corner Lot, Near Public Transit, Rectangular, Rectangular Lot
Elementary school
Belle Sherman
Elementary school district
Ithaca
Middle school district
Ithaca
High school district
Ithaca
Subdivision
Ithaca-City-500700
Standard status
Active
APN
500700-068-000-0002-001-000-0000
Size
3,851 SF
Lot size
0.11 Acres
Taxes and HOA fees
Tax Annual Amount
26650
Utilities
Heating system
Natural Gas, Other (Heating)
Water source
Public
Amenities
hardwood floors
high ceilings
open floor plans
large windows
natural light
laundry
off-street parking
Building Details
Year built
1975
Floors in Building
3
Number of units
5
Flooring type
Varies, Hardwood
Building materials
WoodSiding
Roof type
Asphalt
Listing Agency:
Warren Real Estate of Ithaca Inc.
(607) 257-0666
Listed By:
Kathleen M Markowski · License #30MA0818780
(607) 342-0778
Added: Nov 2
Last Checked: Nov 3 at 4:06PM
MLS# R1725360
Copyright © 2026 New York State Alliance of MLSs, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This 3,851-square-foot apartment building contains five units with a total of 10 bedrooms and six bathrooms: one four-bedroom apartment, two two-bedroom apartments, and two one-bedroom apartments. Hardwood floors, tall ceilings, open layouts, large windows, and laundry serve the units. The property was built in 1975 and occupies 0.1056 acres.
A bus stop is located at the property, with Cornell and downtown Ithaca within walking distance. The listing also reports an approximately 8% cap rate.
A bus stop is located at the property, with Cornell and downtown Ithaca within walking distance. The listing also reports an approximately 8% cap rate.
Key Highlights
- Five apartments with a combined 10 bedrooms and six bathrooms
- Unit mix: one 4‑bedroom, two 2‑bedroom, and two 1‑bedroom apartments
- 3,851 square feet on 0.1056 acres
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,237
Cap Rate
4.61%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,740
$944.7K
Cap Rate 7%
$674,814
$674.8K
Cap Rate 9%
$524,856
$524.9K
Market Conditions
NOI Build-Up for 3,851 SF
Gross rent
$89.7K $23.28/SF
− Vacancy
−$3.8K −$0.98/SF
EGI
$85.9K $22.30/SF
− OpEx
−$38.6K −$10.04/SF
NOI
$47.2K $12.27/SF
Area
Tompkins County, NY
Vacancy
4.20%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$944,740
Cap Rate 7%
$674,814
Cap Rate 9%
$524,856
Alternative Uses
Best Use
Apartment 5plus
$674.8K
$590.5K – $787.3K
NOI $47,237 @ 7.0% cap · market cap 4.61%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.20M
$1.05M – $1.40M
NOI $84,118 @ 7.0% cap · market cap 8.21%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
2,274
Businesses Nearby
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Business Placement
Demographics for 14850, NY
69,271
Population
31,772
Households
2.2
Avg Household Size
29
Median Age
72%
College-Educated
96%
High-School Grad
124.8 sq mi
ZIP Area
555
Density / Sq Mi
$69,689
Median Household Income
$36,115
Median Earnings
$1,446
Median Rent
$334,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Apartments feature hardwood flooring, laundry, high ceilings, and off-street parking.
Where is this apartment building located?
The property is located at 119 Stewart Avenue Ithaca, NY.
What is the asking price?
The asking price for this property is $1,025,000.
What are key features of this property?
This property features: Five apartments with a combined 10 bedrooms and six bathrooms; Unit mix: one 4‑bedroom, two 2‑bedroom, and two 1‑bedroom apartments; 3,851 square feet on 0.1056 acres
